62,800 Shares in Align Technology, Inc. $ALGN Acquired by Andra AP fonden

Andra AP fonden purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 62,800 shares of the medical equipment provider’s stock, valued at approximately $7,864,000. Andra AP fonden owned approximately 0.09% of Align Technology as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALGN. Wealth Enhancement Advisory Services LLC lifted its holdings in Align Technology by 38.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock valued at $2,029,000 after acquiring an additional 4,359 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $650,000. Dana Investment Advisors Inc. acquired a new stake in Align Technology during the third quarter valued at approximately $9,991,000. Hussman Strategic Advisors Inc. bought a new stake in Align Technology during the third quarter worth approximately $3,156,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Align Technology in the third quarter worth approximately $1,327,000. Institutional investors own 88.43% of the company’s stock.

Insider Activity

In other Align Technology news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Barclays upped their target price on Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Wells Fargo & Company upped their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Leerink Partners lifted their target price on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $198.08.

Align Technology Price Performance

NASDAQ ALGN opened at $190.10 on Friday. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 2.08 and a beta of 1.84. The company has a 50 day simple moving average of $172.32 and a 200-day simple moving average of $151.06. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. On average, analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.